New Canadian Prime Minister proves positive for the Canadian dollar

Canada fared well today as their dollar regained much of the ground it had lost prior to their federal election. Their new Prime Minister promised to return Canada to balanced budgets by 2019, and touched on many other area’s including the controversial legalisation of marijuana, a policy which has caused a steep rise in Canada’s cannabis stocks by 11%.

Today they release their Monetary policy report and Overnight Rate at 3.00pm. The Overnight Rate is set to remain at 0.5%, where it has been since July – and as a result of this, we would expect Canadian strength to continue, rising above the 0.5 mark against sterling; where it was prior to election worries

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